Timely Quote

"The budget should be balanced,

the Treasury should be refilled,

public debt should be reduced,

the arrogance of officialdom

should be tempered and controlled,

and the assistance to foreign lands

should be curtailed

lest Rome becomes bankrupt.

People must again learn to work,

instead of living on public assistance."

-- Cicero , 55 BC

Thanks Richard! [where: 75230]

Is there a Vampire in your house?

Yes. There probably is - whether you know it or not.

And I'm not talking about the new Twilight movie. This vampire is the kind that sucks the money from your wallet through 'vampire power'. Vampire Power is the electricity that electronics and appliances use while they are switched off or in a standby mode. It is responsible for electric waste that figures in the billions annually in the U.S. Chances are your home has between 20 and 40 electronic devices plugged in that waste power to this hidden viper. To reduce the energy bloodletting, the the Department of Energy offers several suggestions:

• Use a power strip to easily switch off multiple items at the same time.
• Unplug all chargers from outlets when they are not in use (including phones, electric toothbrushes, laptops,...).
• Ensure your computer turns off in a timely manner (and not in hibernation or standby).
• Unplug the microwave - it may use more power when not actually on.
• Unplug TVs and DVD players when not in use. 40% of the cost to run these kinds of electronics is sucked out when they are turned off.

It's the green thing to do. And the average home wastes $1,000 a year to vampire power. Killing these predators in your house is a smart way to save money, save energy, reduce pollution and help save the planet. [where: 75230]

Thanksgiving Blessing

May your stuffing be tasty,

May your turkey plump,

May your potatoes and gravy have nary a lump.

May your yams be delicious and your pies take the prize,

and May your Thanksgiving dinner stay off your thighs!

[where: 75230]

2008 Pie Contest Winners

Thanksgiving day is almost upon us and almost as important as the turkey, is the pie dessert. Our local Northaven Gardens held a Harvest Pie Contest recently and has posted the winning recipes. Nothing says down home cookin like a great homemade pie. (Which makes me wonder how restaurants sell 'homemade pies'. I want to ask them who's home they cooked it in).

If you're looking for a great recipe for your Thanksgiving, you can't go wrong with allrecipes.com. Their recipes are rated by home cooks and if 200+ people have all given a recipe rave reviews - you can bet it is great.

[where: 75230]

Recent Sales in North Dallas

We're in the middle of the slow real estate season - sales always fall in the fall here. Low mortgage rates have helped cushion our market from the economic slowdown going on all over the country.

Below are the stats for sold properties (single family homes, townhomes, condos, duplexes) located between Northwest Hwy & LBJ Freeway, and between Central Expressway and Midway Road:

Sales since September 1st this year:

$2,000,000 plus : 9 sold : 4 pending sales : 93 for sale

$1 million to $2 million : 15 sold: 10 pending: 166 for sale

$500,000 to $1 million : 37 sold: 11 pending: 213 for sale

$250,000 to $500,000 : 35 sold: 9 pendings: 155 for sale

under $250,000 : 43 sold: 9 pending sales: 141 for sale

[where: 75230]

What's Your Shelf Life?

Now this is what I call shelf life!

I went to enjoy some shrimp this evening and thought I should check the date on the opened jar of cocktail sauce in our fridge before digging in.

Imagine my surprise at the expiration date on this jar. It's good through October 9, 2047!

I hope my remaining shelf life is this long!

Lock in that Mortgage Rate

I can't keep up with what seems like hourly changes in mortgage rates these days. And the rules for getting a mortgage have been changing every week as well. Which is why it is important to have a great relationship with a couple of mortgage bankers and mortgage brokers. I can look to those people for sound advice and great rates & terms.

Last night, I got this report from Kathy Rylander of Granite Mortgage (one of the best in this business):

Today, forget Treasury Bonds ... stocks up 494 points! Dow closes at 8,046!

WOW!!!! WHY?

Wall Street hailed Obama’s tapping New York Federal Bank president Timothy Geithner for Treasury Secretary. We should wish him well. If he is confirmed to this most important cabinet post, he will inherit the toughest job in Washington. He will be charged with restoring stability to the financial markets, the banking system and the housing sector through oversight of the controversial $700 billion financial rescue package…no job for the faint of heart!

Our current Dallas real estate market has been compared to the climate in the late 80s when the savings & loan debacle was in full swing. One of the big differences in this market is the mortgage rates. The interest rates were double digits back then.

Today's Rates:

Conforming to $417,000 _Jumbo above $417,000

30 Year 5.875% _____30 Year 7.500%

15 Year 5.500%_____ 15 Year 7.250%

3/1 ARM 5.500% _____3/1 ARM 5.375%

5/1 ARM 5.625%_____ 5/1 ARM 5.875%

FHA & VA 6.000%

No Points & No Origination

One point (1% of loan paid at closing) lowers rate .25%+

[where: 75230]

Our Changing Economic Attitude

[where: 75230]

Most Unique House in Dallas - a few more days

It may not have running water, but the pumpkin house at the Arboretum is still the most unique house in Dallas - for a few more days. The squirrels will have it gone before Thanksgiving, so if you haven't had the chance to enjoy the fall colors in Dallas, get on over there before it's gone.

[where: 75230]

To Open House or Not Open House

... that is a big question in today's market.

For years, open houses were a marketing tool for agents to showcase properties. Back in the day, a sign in the yard, an ad in the newspaper and an open house we crucial to getting a property sold. But times have changed and so have buyers. In today's market the open house is usually a waste of time.

An open house is one of the most passive marketing tools. You don't have any way of knowing if the visitors are qualified to buy a house, or not. Usually visitors to open houses are either curious neighbors, other sellers checking out the competition, bored Sunday drivers, people looking for decorating ideas, and even thieves. They are not motivated buyers. Before you open your home to a parade of strangers, ask yourself and your agent 'why?'. Less than 1% of homes are sold by an open house. They are inefficient and unreliable. The only time I'll hold an open house is to invite the neighbors who may know someone looking to move into the neighborhood.

Realtors hold open houses to appease sellers (because they think it will help) and to pick up new clients. This does not help you, the seller. When a potential buyer walks into your home the agent greets them and tells them a little about the property while they look around. The odds of your home fitting the exact needs of a stranger off the street are slim. The agent may ask the visitors what they do or don't like about the home. If yours is not the perfect property for them, the agent is happy to tell them about four other similar homes in the area that they may like better. Then the agent can then show them those homes and work as their buyer's agent to purchase one.

You're better off with a Realtor who focuses their time marketing your home online and locally. Today, most buyers view information about your home online or from their agent and then decide if they want to visit your home. You want them to schedule an appointment and have their own private time in your house to view it at their own pace. Your home will show better without a crowd of people milling about and it is safer for you and your property. In my opinion, open houses are obsolete.

Wrestling Season Begins & is hard on a mom

High school wrestling has begun in north Texas and my youngest had his very first match this weekend. He is a freshman and as a first-year wrestler, he was eager for an opportunity on the mat.

As his opponent walked up to the mat and removed his jacket, I could feel the air leave the gym as I gasped. The thug facing my 14-year-old child had tattoos all the way down both arms. The hair on his chest and 5 o'clock shadow on his face made me wonder about the maximum age to attend high school in Texas. My fresh-faced boy must have been more horrified than I was, but he bravely managed not to get pinned or get his neck broken (though he earned a few points because the brute made several illegal moves while trying to separate my boy's shoulder).

So do they allow teams to recruit from penitentiaries or just juvenile detention centers?

I don't know how much of this sport I can take.

[where: 75230]

Neiman Marcus Windows Tonight

Our beloved downtown Neiman Marcus will unveil their holiday window displays tonight at 7 o'clock. It should be a beautiful, crisp (but not cold) evening to enjoy our downtown and some wishful window shopping. This is a wonderful opportunity to forget the worries of the world and just appreciate the beauty of these displays.

Bring your camera, bring a child or just bring your cheerful presence.

Can't decide what to do?

I've found that when people are making big decisions (like buying or selling a home) they sometimes have doubts. Do you have doubts about what you are doing - with big decisions, with your finances, with your life?

When you doubt, it is a sign that you don't trust. The opposite of trust is doubt. Uncertainty causes you to second guess and encourages you to procrastinate. When you put doubt and procrastination together, you're paralyzed. The only way to get past the indecision is to trust. Trust yourself.

The market doesn't stop to wait for you to get through the doubt. It keeps going without you. And sometimes it leaves you behind.

[where: 75230]

A Favorite Proverb

He that can't endure the bad,

will not survive to see the good.

[where: 75230]

Just How Bad is the Real Estate Market?

Lets just take a look at this graph of residential sales in the metroplex over the past 4 years. Doesn't look like fire and brimstone to me. Judge for yourself.

Thanks Britt Fair.

[where: 75230]

The New Neutral in Kitchens

Stainless steel is the 'new neutral' in kitchen design. And while stainless steel appliances have been all the rage for a few years, word is we'll be seeing it in bathrooms as well soon. And I'm talking about residential bathrooms, not commercial spaces.

One of the coolest new products out there are stainless steel tiles by Stainless Living and stainless steel backsplashes by Star Stainless Design. You simply glue and stick them to your existing wall or backsplash. No laying tile or grouting, and it looks really nice. They come in several patterns, size options and even copper.

While they may seem a bit pricey for the average home, consider the incredible amount of time and labor they save. I'm planning a kitchen remodel in the next year and these certainly merit strong consideration. [where: 75230]

We're Number One!

The forecast for Dallas/Ft.Worth residential real estate is the best in the country according to me and the The PMI Group (residential mortgage insurers with a research staff a lot bigger than mine). Their Fall 2008 U.S. Market Risk Index shows the risk of future home price declines or increases and they rank the nation's 50 largest metropolitan statistical areas according to the likelihood that home prices will be higher or lower in two years.

The areas with the lowest risk of price declines -- less than one percent -- are in Fort Worth-Arlington, Dallas-Plano-Irving, Houston-Sugar Land-Baytown and Pittsburgh, PA. But who wants to live in Pittsburgh?

The highest risk of future price declines remains in Florida and California. You face a 99%+ likelihood of seeing your home value fall if you've got property in Fort Lauderdale, Pompano Beach, Deerfield Beach, Orlando, Kissimmee, Miami, Miami Beach, Kendall, Tampa, St. Petersberg or Clearwater, Florida or the Riverside-San Bernardino area of California.

Real Estate is a limited commodity that over time will always increase. Its not like they can make any more of it (except if you're in near the Persian Gulf). You just have to live long enough to see the profit. [where: 75230]

Veteran's Concert this Sunday - Transformed by War

Get down to the super-fast growing Arts District to attend a special program on Sunday at 8:00 at The Cathedral of Guadalupe. The Arts District Chorale and Orchestra is presenting "Transformed by War". This concert is free for veterans.

This unique program features "Dona Nobis Pacem" written by Ralph Vaughn Williams at the end of World War I, and a modern piece by Paul Moravec which uses letters from and to veterans and their families. The Vaughn Williams was composed to be sung at Coventry Cathedral and was a prayer that there would never be another World War. It was offered again in the ruins of that same Cathedral after World War II. The patina of history only made the piece more powerful.

My colleague John O'Neal performs with this talented group and I'm incredibly proud of him. Tickets are $20 in advance and $25 at the door. Veterans attend for free and are invited to wear their uniforms. This concert answers my plea for a break from the onslaught of Christmas music this early. I'll certainly enjoy it.

[where: 75230]

Its begining to look a lot like Christma... hey, wait a minute.

It's November 6th and the piped-in Christmas music is already getting annoying. I'm really into Thanksgiving and just can't stand to see this holiday rushed over for the colossal display of consumerism.

Why aren't there any Thanksgiving CDs out there? How about a few seasonal songs for this wonderful American holiday? I'd promise to buy a bunch of them is some crooner would help us delay the carols.

[where: 75230]

Housing Market Bouncing Back

The government has slowed the global financial tailspin and the parachutes have slowed down the freefall. The question still remains as to how much it has softened the blow upon landing.

Once the election is over and we are given the chance to straighten up and dust off, it will take a while for the country to heal bodies, souls and wallets. Fortunately, in Texas we didn't have far to fall and we have a lot of cushion (including one big pad called Barnett Shale).

The down cycle is ending in Texas and a new cycle will lead to new heights. In the interim, people are selling and buying and getting loans. I'm feeling a bounce in my step already.

[where: 75230]

The world changes tomorrow - be there

"People often say that, in a democracy,

decisions are made by the majority of the people.

Of course, that is not true.

Decisions are made by a majority of those

who make themselves heard and who vote

-- a very different thing."

Walter H. Judd

See you at the voting booth!

[where: 75230]